No matter whether there is market value or not, you can participate in the subscription of new bonds, so you can participate in convertible bonds to make new ones even if you don't stock. When general bond products are just issued, the issue price is relatively low;
At this time, investors' subscription for newly issued bonds is called new bonds. When they subscribe, they will choose investors who can buy bonds by lottery, which is called lottery. Investors who win the bid buy bonds at the issue price of the bonds;
The cost required is very small, and then you can sell bonds and get relatively high returns. However, after the new debt is listed, it will generally not fall below the face value, and there is almost no loss. Therefore, there are generally many investors who make new debts.
Introduction of new debt:
Generally speaking, the lower the premium rate, the smaller the probability of breaking. In fact, whether the valuation of convertible bonds is high or low can be judged by its premium rate. Generally, the higher the premium rate of convertible bonds, the lower the value of convertible bonds, and the greater the probability of breaking after listing. Here is a formula for reference:
Conversion premium rate = (current price of convertible bonds-conversion value) ÷ conversion value ×100%; Conversion value = share price ÷ conversion price ×100; Investors should comprehensively judge whether the newly issued convertible bonds have innovative value. Because in addition to the premium rate of convertible bonds, the performance of convertible bonds on the first day of listing will also be affected by the terms of convertible bonds, the trend of positive shares, market environment and many other aspects.
Securities are the general name of all kinds of economic rights and interests certificates, and also refer to specialized products, which are legal certificates used to prove that the holder enjoys certain rights and interests.
Securities mainly include capital security, currency securities and commodity securities. In a narrow sense, securities mainly refer to securities products in the securities market, including property market products such as stocks, debt market products such as bonds, and derivative market products such as stock futures, options and interest rate futures.
In February, 20021,Supplementary Provisions of the Supreme People's Court and the Supreme People's Procuratorate on the Execution of Confirmed Crimes (VII) stipulated the crime of fraudulently issuing securities (the crime of fraudulently issuing stocks and bonds was abolished).
basic feature
Securities are essentially civil rights with property attributes. The characteristics of securities are that civil rights are embodied in securities, so that rights are combined with securities, and rights are embodied in securities, that is, rights securitization. It is a legal phenomenon in the form of securities in the way and process of rights holders exercising their rights, a social phenomenon of symbolization of investors' investment property, and a sign and result of developed social credit.
Securities must be associated with specific forms of expression. In the process of securities development, the earliest basic way to commend securities rights is paper, and the specific rights are expressed in words or graphics on special paper.
Therefore, securities are also called "documentary evidence" and "documentary evidence". However, with the rapid development of economy, especially the development of electronic technology and information network, paperless securities have appeared in modern society. Securities investors almost no longer own any securities in the form of physical coupons, and the number of securities they hold or the securities rights are recorded in the investor's account accordingly. The development process from "paper securities" to "paperless securities" reveals the great differences between modern securities concepts and traditional securities concepts.